Archive for the 'Realtors' category

Calling All Agents in the Phoenix Market

By Shailesh Ghimire, March 19, 2008 at 8:43 am

Don’t forget that tomorrow (Thursday March 20th) I’m hosting a mortgage seminar for real estate agents who wish to survive the current market. FHA loan is all the rage, and Canadians are  coming down in droves - as an agent you need to know the lending climate so you can convert inquiries into closed transactions!

I’ll cover the following topics:

  • FHA loans keep market alive (Seller contributions, down payment grants and gifts)
  • VA loans… sometimes the only alternative!
  • Foreign Nationals Program
  • Declining Markets… how this affects your buyers
  • Latest guideline revisions from Fannie and Freddie
  • The latest on the Credit crunch

Not only that I’m providing lunch - free! Come hungry - but also come hungry to learn.

Learn more about the Mortgage Seminar for Real Estate Agents.

Welcome to the Arizona Mortgage Guru blog, a great resource for all your home financing needs. If you're new here and like the content, you can subscribe to my RSS feed to get regular updates on all things related to mortgages. Thanks for visiting.

Realtors - Short on Time? One BIG tip to Maximize your Productivity…

By Jennifer Furrier, October 4, 2007 at 4:03 pm

Guest Writer Jennifer FurrierYou are not alone if you feel like there just aren’t enough hours in the workday. Utilizing this POWERFUL tip, will help you get more accomplished in your busy day, giving you more time for what you really want to be working on. And just a warning, you may cringe and fight me on this one, but first, hear me out…

DO NOT CHECK EMAIL UNTIL YOU HAVE COMPLETED ONE LARGE TASK FOR THE DAY. DON’T EVEN SNEAK A PEEK AT YOUR INBOX UNTIL YOU’VE CROSSED OFF A BIG TO-DO!!!

Time ManagementOften times, checking our email is not a top priority, but instead, our clever way of looking for something more interesting than the task at hand or our sneaky way of delaying the start of something more important.

It is easy to spend thirty minutes here and twenty minutes there on email, but how much is actually being accomplished when we’re doing that?

We all know the eighty/twenty rule, which states that twenty percent of our efforts produce eighty percent of our results. It’s important to consider that twenty percent of an eight hour day is ninety-six minutes, which is time that easily gets burned clicking around our inbox with our morning cup of coffee!

This week, when you get to the office, knock out one of your biggest to-dos for the day, before checking your email. You will thrive off of the accomplished feeling in knowing it’s only 10:30 and you already finished one large task.

Ok, let’s recap: DO NOT CHECK EMAIL UNTIL YOU HAVE COMPLETED ONE LARGE TASK FOR THE DAY. DON’T EVEN SNEAK A PEEK AT YOUR INBOX UNTIL YOU’VE CROSSED OFF A BIG TO-DO!!! If you want more simple and effective tips to help you manage your time, and maximize your productivity, check out or call 480-688-0920 to find out how you can get yourself organized once and for all!!

Mom, Dad, Look What I Found on Craigslist

By Shailesh Ghimire, September 5, 2007 at 3:35 pm

Ahhhh… the joys of a Saturday morning. Pour some strong coffee, fire up the ol’ laptop and get on Craigslist. Look at a few cheap used cars, maybe buy some used furniture for the bathroom, check out a few ladies offering the latest in massage therapy, and oh, see if you can’t find a house to move into and get outta the dumps!

Craigslist is fast turning into the red light district of the Internet. As the New York Times reports today:

“Craigslist has become the high-tech 42nd Street, where much of the solicitation takes place now,” said Richard McGuire, Nassau’s assistant chief of detectives. “Technology has worked its way into every profession, including the oldest.”

In July raids, the sheriff of Cook County, Ill., rounded up 43 women working on the streets — and 60 who advertised on Craigslist. In Seattle, a covert police ad on Craigslist in November resulted in the arrests of 71 men, including a bank officer, a construction worker and a surgeon.

And while prostitutes also advertise on other sites, the police here and across the country say Craigslist is by far the favorite. On one recent day, for example, some 9,000 listings were added to the site’s “Erotic Services” category in the New York region alone: Most offered massage and escorts, often hinting at more.

That in essence sums up Craigslist. A microcosm of the Internet. Anything, anywhere, anytime and in anyplace. Click, click, click and you’re there.

So, is there anything wrong with this picture when it comes to Real Estate? Not really. Many agents advertise their listings on Craigslist. It’s great exposure and heck you’ve got to show your clients you’re doing some on-line marketing right?

Depends.

You don’t need a Harvard degree to know that in marketing perception is reality. In most cases the medium used to convey the message defines the messenger. In Real Estate the product is the agent. The house is a by-product. An agent attracts the type of buyer he or she seeks. So, this begs the question: What kind of product are you? Do you want to work with Shrek or Lord Farquaad?

Lani raises the exact same issue on her blog, and I agree with her:

The only problem is that most of us don’t venture past the “housing” section of Craigslist to know that one of the most popular draws of Craigslist is the “personals” section. It is common knowledge that Craigslist’s success began with the “personals” and “for sale” sections. Some of the personals range from questionable to pornographic. Looking to buy a ball-gag wearing bedroom slave? Look no further than the famed Craigslist.

That’s great for those in the market for a slave, but did you even know that the same venue you post clients’ homes on is used for this purpose?

However, she goes a step furtherand wants Craigslist to remove their personals listing or make it somewhat hidden. She even asks why MySpace and other social networking sites get a bad rap on the same issue but Craigslist hasn’t felt the heat.

The main reason why sites like MySpace get pressure is bacause it was a kids hideout until the adults jumped in on it. In late 2004 no one above the age of 35 knew about this underground phenomenon and all of a sudden today we have entire real estate listings on MySpace.

What I’m saying is that a teenage hangout got raided by everyone and anyone trying to cash in on a hip new trend. Craigslist was never a teenage wasteland. From day one it has always been the classified section of the Internet.Young urbanites, more comfortable with a laptop than a newspaper in cities like San Francisco and Seattle used it to find stuff and sell stuff - all for free. You got on, found your stuff and got out. You’re not there trying to make friendships with the guy selling the old BBQ grill.

As you can see MySpace and Craigslist are two different animals. In MySpace you build a community, on Craigslist you try to get a sale out of the community. Kids talk about MySpace in school and everyone wants to be your friend, I’m not sure Craigslist has the same effect. That is why MySpace needs to make sure kids are protected and Craigslist doesn’t. 

Despite the differences authorities are still asking why Craigslist doesn’t self-police or stop allowing such advertisements. Again from the New York Times:

Law enforcement officials ask why Craigslist even includes Erotic Services among its 191 categories. Mr. Buckmaster, the company president, said the site created that category “at the request of our users” for legitimate massage, escorts and exotic dancers.

The bottom line is you use Craigslist at your own risk. In other words Craigslist has no obligation to remove any section of its classifieds. Responsible adults need to teach their kids and neighbors need to warn neighbors. Besides its like getting on the Internet. Once on, you’re really only one typo away from porn.

As far as listing Real Estate, it’s a business decision. More specifically it’s a market positioning decision.Whether you want your face on a sale sign next to the local De Ja Vu Club or not is up to you and maybe based on the house you have to sell. This may get you some additional traffic, but when was the last time traffic paid the bills? Even the massage ladies know that!

Real Estate Comedy “Closing Escrow” Looks Funny

By Shailesh Ghimire, September 3, 2007 at 11:07 am

Finally a funny movie about Real Estate and Realtors. I’ve only seen the trailer and not the whole movie, so I can’t say what the movie is like. However, from what I have seen it looks to be a funny one. Some funny lines I caught:

“I like to take a submissive posture with my clients.”

“I am aware that I am your slave, I work for you.”

“I guess selling a house was a lot more complicated than I thought it would be.”

A better version is available on Apple Movie Trailers.

Blogging for Real Estate Professionals

By Shailesh Ghimire, August 27, 2007 at 3:46 pm

If you missed my blogging seminar earlier this month, do not fear. Steve Groves/Executive Conversations, is putting one together tomorrow. This two hour event will cover the fundamentals of blogging.

Steve will also be handing away some real cool goodies too:

By special arrangement, we’ve been able to get every attendee a free sign-up for a real estate agent website from Point2 Technology. The basic site is free to all, so tomorrow we’ll be making sure we have the sign-up information and your get an invitation by tomorrow evening.

One lucky attendee will get their annual subscription free for a TypePad blog ($50 value), courtesy of Business Blogging Pros and

One attendee will also get a one year free to a Point2 Technology Professional-level subscription ($599 value) courtesy of Point2.

This starts at 3pm (August 28th) at Jobing.com Headquarters Office,
4747 N. 22nd Street, Second Floor Conference Room). I’m planning on attending and hope to see you there.

Real Estate Blogging Seminar Re-cap

By Shailesh Ghimire, August 17, 2007 at 8:23 am

Yesterday’s Real Estate Blogging Seminar held at SEVRAR and sponsored by Grand Canyon Title Company was very well attended. There is certainly a lot of interest out there on blogging and how to use social media tools for business. I want to thank everyone for attending and Adam Saunders at Grand Canyon for all his work in organizing this event.

As I promised I have posted my Blogging Seminar PowerPoint. Like I said yesterday, this is only a reflection of my personal experience with blogging. It is by no means a blueprint.

It was good to see some veteran bloggers in attendance. I don’t know if they learned anything but Jay Thompson (The Phoenix Real Estate Guy), Calie Waterhouse (Decorated to Sell) and Doreen McPherson stayed for the whole thing. I must add none of them threw any rotten tomatoes. What a relief that was for me! Phew.

There was also another seminar across town yesterday. Steven Groves, Greg Gotcher and Dave Barnhart presented relevant blogging materials and it’s a bummer that we had a clash! I would have enjoyed attending. Maye they’ll share their experience on their blog soon.

Update: Read Calie Waterhouse’s take on the seminar.

Doing business while driving? Here’s a tool you MUST know about!

By Jennifer Furrier, August 16, 2007 at 8:01 am

Guest Writer Jennifer FurrierI recently worked with a busy commercial Realtor who was losing sleep at night because she was stressing about trying to recall the details of her conversations on the road. She was concerned, with all of the different conversations she was having in a day, whether or not she was following-up on the actionable pieces to her conversations. Well from a professional organizer’s perspective, this isn’t the easiest problem to solve, but fear not, I found a successful solution.

For those of you busy realtors and professionals on the road, this frustration brings up so many different points, but for today, I want to share with you one incredible tool, that takes less than five minutes to begin using, and is FREE!

Can I get a drumroll please…………………………………………..

www.jott.com

Basically, how it works is you call up their phone number and leave a message for yourself or someone else, and that message gets transcribed into an email, and sent to you, or whoever you “jotted” in less than 15 minutes. Now don’t ask me how this works, because that is not my expertise, however, this tool is a fantastic time saver, and stress reliever.

Instead of trying to keep information in our heads to remember for later, (because our brain is for thinking and creating new ideas, and not for storage), leave a message with Jott and then receive an email record of whatever it is you said. And yes, you can “Jott” others. It takes a few minutes at the most to upload your database and then it will ask you, “who do you want to Jott?” and you just say the person’s name, and begin leaving your message.

This is great if you want to confirm a meeting with someone, or have something quick to say, but don’t want to get stuck talking on the phone, but are away from a computer. Also, you get a copy of the email that was sent to someone else. Isn’t that great?

Oh, and the commercial Realtor is getting plenty of sleep! Yep, just another great tool to help us cope with our insanely busy lives. Of course I have many tools for helping people to operate more efficiently, helping their well-being and their bottom line. You can check out my website for more info.

Would You Like a Realtor With That Loan?

By Shailesh Ghimire, July 24, 2007 at 4:18 pm

Jay Thompson recently wrote about a real estate agent doing double duty as a loan officer on the same transaction. It seems to have garnered quite some buzz. I know real estate agents should be very well educated when it comes to home financing, but it would be hard to wear both hats. It’s better to specialize in one and not have to worry about the other.  How about lenders wanting to cross over?

I will say that when we deal with for sale by owners or sellers without agents, we lenders can be forced into a situation where those whom we are arranging the loan for do need some real estate advice. I do not give any real estate advice under any circumstances. However, in the past year I’ve had to deal with several borrowers not using agents for various reasons. A lot of these cases have also involved first time home buyers.

So, in these cases I’ve had to help with setting up escrow, explaining the ten day inspection period, providing referrals for a good home inspector etc. I don’t advise on anything to put on the contract and absolutely do not even suggest anything. I only provide what is really just commonly available information which the borrower could obtain from other sources with a little bit of effort.  It has helped that I’ve worked with fantastic escrow officers on these transactions.

I certainly always recommend that they obtain representation especially when they are first time home buyers. There is no reason why a buyer shouldn’t! However, often times it is because the seller doesn’t want to deal with an agent on either end, so the buyer is forced into an uncomfortable situation especially when they really love the house. In the past few cases things have worked out really well. I’d hate to imagine what it would be like if things had gotten ugly. Thank goodness I only deal with mortgages.

Carnival of Real Estate #50

By Shailesh Ghimire, July 16, 2007 at 8:38 am

I participated in my first Carnival of Real Estate this past week. I submitted my post from last week called “There Is More to the Apple Pie Than Just the Apple”. This installment of the carnival was hosted by Toby Boyce and also happened to be the 50th edition. In this brilliantly written carnival post the writer uses a golf theme. There are actually two versions this week, one for the participants and another one highlighting consumer relevant posts. Alas, I was knocked out in the first round. I was never much of a golfer to begin with so I’m not discouraged. The quality of the writing at these things is out of this world so a rookie like me has quite a bit to learn.

The winning post “The Imperative of Divorced Commissions, Part 2: The Inherent Value of Free“ was written by Jeff Kempe of BloodhoundRealty Blog.

If Looks Could Buy, Road Blocks Fly By

By Shailesh Ghimire, July 13, 2007 at 6:00 am

Cell phone ring tone “If you”re happy and you know it clap your hands”

Road blockPause……

Ring tone again “If you”re happy and you know it clap your hands”

Call answered:

“Hello, CTX, how can I help you?”

“Oh hi, this is Agent Realtor”

“Hi, Agent, how are you today? It’s pretty hot out isn’t it?”

“Yeah it is, I’m doing good, thanks… hey I have a buyer, we’ve been driving around looking for a home all day today and he needs to be pre-qualified for a loan. We’ve found this fantastic, four bedroom, three bath place near a good school district and they absolutely love it! It even has a Jacuzzi”

“Great. Let’s take an application and we’ll be on our way”… “oh boy”….

What is wrong with this conversation? Do you even see anything wrong with what just transpired? Is this a mistake of a rookie agent? Or, a first time home buyer unclear about how to go about the purchase transaction? I don’t know. All I can say is plenty of agents and buyers call me at the end of the day after a long day of window shopping. I guess traveling in the heat not knowing how much you can afford to buy must be a worthwhile experience for many people. I certainly will not argue against their preferences. Hey, some like it that way!

However, my advice to home buyers and agents is that they need to first talk to a mortgage person and obtain a credit approval if possible before spending any time looking for a home. I work with an agent in North Phoenix who is pretty good at this. Anytime he’s made contact with a buyer he sends them to me first to be qualified. Once I told him that the buyer he sent me couldn’t even afford a $50,000 home. He was stunned. These folks pulled up in a very nice new vehicle and were impeccably dressed he said. I guess looks can’t kill – or buy a home for that matter!

Why would you ever want to spend a whole day of your life driving around town looking for something you have no idea how you would buy. Not only is time money, but think of the heartache of coveting something you can’t have! If the buyer says they have already talked to a lender, then I suggest asking to speak with the lender. It is important to know the questions to ask and evaluate the strength of the approval. Remember, a stone unturned today can be a road block at underwriting tomorrow!

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